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EMI and traditional banking: what is the future?

POSTED ON: 21 May, 2018

The EMI (Electronic Money Institution) industry is undergoing a period of rapid expansion with modern start-ups and state-of-the-art fintechs entering the field. Is EMI a complete game changer? Can it meet all of our personal and business banking needs and make us kiss goodbye the conventional banking? Let’s have a look at it.

Certainly, each EMI is different and offers a unique combination of apps, mobile solutions and innovative services. But the bottom line is that there is nothing traditional bank provides that licensed EMI doesn’t. When choosing EMI you get all the perks of the old-school banking plus some extremely valuable additional features. Innovation enterprise lists the most important of them:

1. Advanced Solutions for both private and corporate needs

Everything from modern online banking and superior experience to faster, easier and more user-friendly apps, custom made solution and general innovation. EMI is all about being improved, better, more advanced and certainly one step ahead conventional banking.

2. Enhanced compliance procedures

While all financial services providers must follow the set of extremely complex rules, EMIs usually have the benefit of owning advanced technical solutions and sophisticated internal systems that allow them to conduct thorough online monitoring. They can detect and flag any suspicious activity and act on it instantly.

3. Understanding the digital environment

EMIs are built to fulfill the needs of digital world and meet the current changes in financial standards. They know the business and understand the mechanisms of innovative institutions. EMIs can identify with their clients, recognize their needs in the digital world and become one of the reasons of their growth.

Join Satchelpay to experience advanced IT environment, cheap, secure and quick payments service yourself!

info@satchelpay.com

+370 5214 1818

Head office

A. Goštauto g. 40,
Vilnius, LT-03163,
Lithuania

SatchelPay UAB (reg Nr. 304628112) is licensed by the Supervision Service Department of the central Bank of Lithuania and granted electronic money institution licence Nr. 28, with a payment system participant code Nr. 30600, that conducts business under the laws of the Republic of Lithuania, according to the EU Directive (2009/110/EC) and Directive (EU) 2015/2366 on EU-wide payment services. SatchelPay UAB is allowed to render financial services in the following countries: Austria, Belgium, Bulgaria, Cyprus, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Germany, Gibraltar, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, United Kingdom.

info@satchelpay.com

+370 5214 1818


Head office

A. Goštauto g. 40,
Vilnius, LT-03163,
Lithuania







SatchelPay UAB (reg Nr. 304628112) is licensed by the Supervision Service Department of the central Bank of Lithuania and granted electronic money institution licence Nr. 28, with a payment system participant code Nr. 30600, that conducts business under the laws of the Republic of Lithuania, according to the EU Directive (2009/110/EC) and Directive (EU) 2015/2366 on EU-wide payment services. SatchelPay UAB is allowed to render financial services in the following countries: Austria, Belgium, Bulgaria, Cyprus, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Germany, Gibraltar, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, United Kingdom.